The Dealmaker: 5/3/2018

Arizona Diamondbacks strike deal with county over Chase Field. The deal “allows the team to immediately begin looking for another home if it drops a lawsuit arguing the county should pay $187 million in repairs.” The Republic also reports that the deal allows the D-Backs to depart without penalty — under certain conditions. Tap on for the full report which includes access to the MOU as well a “cover letter explaining the proposal.” http://bit.ly/2FFR23F

New ‘opportunity zones’ aim at low-income area uplift; all areas hold great promise for attracting investment, says Jordan Rose. “[The] IRS approved [18] Opportunity zones in the East Valley, spread throughout Tempe, Mesa and Chandler [and Gilbert].” East Valley Tribune takes a look at these O-Zones and the potential economic impact they could have for both area and investor. “Governor Ducey was thoughtful in his designations. His choices range from low-income areas to Native American communities to areas in downtown Scottsdale where there is a great possibility to attract investment to the state,” said Jordan Rose, President andFounder of Rose Law Group, which has been advising clients on Opportunity Zone potential. http://bit.ly/2rjY5Kg

Beazer swings to a profit in fiscal Q2. “Closings, orders and backlog all rise as deleveraging plan stays on course,” reports Builder, which has the homebuilder’s “Fiscal Second Quarter 2018 Highlights and Comparison to Fiscal Second Quarter 2017,” plus remarks on the “improvement in profitability” from Beazer Homes president and CEO, Allan P. Merrill. http://bit.ly/2JPZ4tw

Desert views attract the sunbirds at Mountain Shadows. Builder takes a peek — inside and out — at The Residences and Villas at Mountain Shadows, the “10.5-acre residential community” from New Home Co. in Paradise Valley, which was designed “almost exclusively” with “move-down” buyers “in mind.” http://bit.ly/2rkYXhE  

Rosewood Homes takes home industry award. The homebuilder grabbed “Small Volume Builder of the Year” at the HBACA MAME Awards “for its efforts at several of its neighborhoods including Sierra Highlands, Rosewood Grove andRosewood Canyon Estates.” Arizona Foothills Magazine reports that Rosewood also landed the very first award for “Rising Star of the Year.” http://bit.ly/2rikVmi

Sun Cities residents push for policy change. Homeowners in Sun City and Sun City West are having a heck of a time trying to get reverse mortgages. The “logjam” has to do with HUD’s “free assumability clause,” community “preservation fees,” and a reluctance by recreation centers officials “to adjust their bylaws.” The story in YourValley. http://bit.ly/2JLiWxN

Wickenburg Ranch conveys water systems; requests density adjustment.The developer of Wickenburg Ranch and the Town of Wickenburg are “working through a couple of changes” involving “an adjustment in the density of houses,” as well as the “transfer of ownership” of water entities. Both are happening in accordance with the “original Pre-Annexation and Development Agreement.” Details in The Wickenburg Sun. http://bit.ly/2FEC8e0

Industrial vacancy lowest in more than a decade. “The Greater Phoenix industrial market continued improving during the first quarter of 2018, though net absorption has lagged behind 2017 levels. The remainder of 2018 will be a time of tenant move-ins and construction activity… particularly in the West Valley along Interstate 10 and the Loop 303.” AZRE. http://bit.ly/2jo3cpg

New city manager excited to make Maricopa home. PinalCentral chats with new city-manager-in-waiting Ricky Horst (his first day is June 25)  on a variety of topics. http://bit.ly/2HLqAf4 

Cameron’s $5M + deals of the day – http://bit.ly/2HKZpAU 

Kentucky Derby party Saturday at Turf Paradise, Third Annual Stella Artois Derby DayClub – http://bit.ly/2Fu0tmM

As a supplement to the Dealmaker, we thought you might enjoy these articles!

Ducey signs education spending plan. “Gov. Doug Ducey has signed the K-12 budget after lawmakers worked through the night to pass the $10.4-billion spending plan that funds his promise to boost teacher pay this fall and in the following two school years. The Senate has already approved the entire budget, and the House was still working on five bills in the budget package.” Arizona Capitol Times. http://bit.ly/2Kyllgz

Proposed budget has special funding for the teaching of conservatism — a shot at ‘left-wing’ bias in universities. “Since 2016, legislators have appropriated $12 million to [ASU] and [UA] for… so-called ‘freedom schools’ designed to teach conservative values.” And AZCIR reports that, despite the two schools having “$9.8 million” in existing surplus from that initial infusion of funds, “Arizona lawmakers are speeding toward passage of a budget that will provide” an additional “$7.5 million.” http://bit.ly/2rjcJkZ  

Yuma plant meant to conserve water will cost millions to update.“Anticipating years of drought, officials built the Yuma Desalting Plant in 1992 to treat agricultural runoff and conserve water in Lake Mead. Over the past 26 years, however, the plant has operated just three times while costing millions of dollars to maintain. And it may need millions more, even to operate at a small fraction of capacity.” Cronkite News. http://bit.ly/2KuTVrI

Valley cities flunk household, religious diversity tests. WalletHub study scored “501 of the largest cities across 13 metrics,” combining “household diversity and religious diversity with” its “previous reports on socioeconomic diversity, cultural diversity and economic diversity.” The findings here: http://bit.ly/2rjR78f

How social justice helped this Phoenix businesswoman build her online fashion brand. PBJ looks at how “Phoenix-based businesswoman” Cheryl Najafi has “built a growing, cause-driven business [Love Over H8] while navigating the challenges of e-commerce retail and sustainable fashion in a rapidly changing industry.” (Subscriber content) http://bit.ly/2ro9fPh